Britons are expected to splurge £3.43 billion on last-minute Christmas shopping during what is being called “Panic Weekend.” VoucherCodes.co.uk anticipates that 49.6 million individuals will engage in festive shopping this weekend, with 36.8 million planning to visit brick-and-mortar stores, providing a boost to town and city centers nationwide.
The forecast predicts that spending will peak at an average of £2.3 million per minute on “Super Saturday,” totaling £1.75 billion overall. This weekend is the final opportunity before Christmas for many to complete their gift purchases or, in some cases, to begin them.
Zoe Morris, a savings expert at VoucherCodes.co.uk, remarked, “Regardless of how well-prepared you may think you are, there are always a few Christmas essentials that catch you off guard and send you rushing to the stores. This year, Britons are procrastinating on their shopping until the very last minute, with an additional 10 million people expected to make purchases during this ‘Panic Weekend’ compared to last year, representing a 26.2% increase in shoppers.”
The positive news for retailers is that the projected spending spree this weekend is nearly 13% higher than the previous year. Data on foot traffic, the number of shoppers out and about, increased by 5.1% last week, with the high street emerging as the clear winner.
Retail leaders find these trends promising as the final countdown to Christmas begins. With the last 10 days of trading underway and ‘Super Saturday’ fast approaching, foot traffic is expected to continue to rise.
As schools and many offices break for the holiday this week, the strongest uplift is anticipated over the weekend, with shoppers focusing on last-minute gift purchases and festive grocery shopping.
The accuracy of the optimistic forecast will only be confirmed when stores begin reporting their festive trading figures early in the new year. Concerns have arisen that consumer spending was affected by the late timing of the Budget on November 26 and fears of tax increases leading up to the holidays.
A snapshot survey indicates that sentiment following Chancellor Rachel Reeves’ statement did not improve. Household confidence in their future financial well-being is at its lowest level since late 2023.
Maryam Baluch, an economist at S&P Global Market Intelligence, expressed, “The latest household confidence indicator following the Autumn Budget is disheartening. Sentiment regarding financial prospects for the next 12 months has turned pessimistic, marking the gloomiest outlook in two years.
Households reported a further decline in current financial conditions in December, with reduced available cash and an increasing need to take on more debt. Confidence in the job market has also weakened, with signs of deteriorating job security.
The combination of low household confidence and early signs of job insecurity highlights the challenges facing UK households amidst an uncertain economic climate as the new year approaches.
With spending intentions worsening in this deteriorating financial environment, it is unlikely that consumers will significantly boost the economy as we head into 2026.